Kadena has the most accessible blockchains out there, and is one of the reasons i fell this is the future of blockchain technology. The whole Kadena Ecosystem has a lot to offer and with recent changes to their internal structure and promotion of a board member internally, its a good one to watch. The next few years could see Kadena rise above many of its competition. If you haven’t heard of Kadena before, or don’t know too much about it, take a look at the below article which explains why Kadena really does stand out from the crowed.
The Overview of the Kadena Ecosystem
Kadena is one of the highest scaling layer 1 open-source repository public blockchain networks in the world. Kadena Network claims that it can execute nearly 500000 transactions per second. With the high transaction speed, Kadena does not require a layer 2 scaling like others, such as the Ethereum network. Kadena makes blockchain accessible for everyone in the world. Kadena as an ecosystem provides security to Bitcoin, unparalleled throughput, virtually free gas, and smart contracts. Kadena optimizes the features and scalability of the ‘Pact Smart Contract Language. Pact is readable for non-developers also, and it can automatically detect bugs.
Unique Features and Services of Kadena
What makes Kadena different from other blockchain providers and smart contract dealers is, it addresses the major concerns of the cryptocurrency market, such as privacy, security, speed, high throughput and accuracy of transactions, the technical understanding for normal people to access the ecosystem. The platform was co-founded by pioneers of the blockchain industry. Stuart Popejoy, the founder and CEO of Kadena, was the former leader of JP Morgan’s emerging blockchain group, along with Will Martino, the co-founder, and president of Kadena. He was the tech lead of SEC’s cryptocurrency steering committee.
Smart contracts:
Self-executing contracts with predefined terms and conditions between two parties is called smart contracts. The majority of smart contracts like Ethereum are not gasless. User has got no control over the contracts; they deploy into the network and run as programmed. But Kadena smart contract supported by Pact allows the user to build effortless smart contracts. Users can write the contract or launch it on the fiftieth dApp, making the contract much safer than other smart contracts.
No cost transactions:
Kadena will decide to provide the first crypto gas station, eliminating all transaction fees to customers. This step can lead to the mass adoption of dApps. The unique architecture of Kadena can make increase energy-efficient transactions per second.
Blockchain technology:
The public blockchain network of Kadena is the only shared and scalable layer 1 Proof of Work network in use today. The scalability and throughput are achieved by braiding with multiple blockchains like Bitcoin. To meet higher demands in the network, they created a live network expansion from 10 chains to 20 chains. The multichain architecture prevents Kadena from reaching the throughput ceiling. Kadena is the only scalable Proof of Work platform which is capable of scaling to settle 9+million trades executions every day.
DeFi and NFT payments:
Pact provides flexibility and security to the system. Serial and fractional NFTs, faster payment with the use of Kuro Layer 2 technology. Trustless, decentralized, cross-chain transfers are executed seamlessly by the Kadena chain relay bridge. Pact is governed at three levels, code level, account management level, setting strategic direction for key community initiatives. All this is available on the website.
The Overview of Kadena (KDA) Token
KDA is the native cryptocurrency of the Kadena platform, which is used to pay for the Kadena services provided. The total supply is 1 billion tokens that are to be mined over 120 years. 70% allocated to miners, 20% for the providers, 7% for investors, and others rest is for the contributors. Token schedules and allocation are designed to provide sustainability. Kadena is generated through mining; existing coins can be used in three ways. Mining is incentivized by rewards for each block which will decrease gradually over the years. The total Kadena coin in the economy is 990M which means 1 billion launched coins minus 10 million burned at the launch.
Currently, 98.8 million Kadena coins are in circulation from January 2021 data. Still, there is 10.8 million unreleased Kadena coin in the ecosystem.
- It can be directly transferred between users.
- Payments for creating a new smart contract.
- Paying the gas cost of executing a smart contract.
Kadena KDA has a wrapped version called WKDA, which allows it to operate in the Ethereuem network and will enable it to interact with EVM compatible DeFi protocols. The network has partnered with CELO, COSMOS, CoinMetro, Flex, Ledger, Polkadot, Terra, WRAPPED, Zelcore to create interoperability and integration within the network.
Kadena Technical Analysis
The Kadena (KDA) price has rallied in the past few weeks creating higher highs in the daily chart. The recent launch of Wrapped Kadena coin on the Ethereum network, roll out of non-fungible tokens, the new listing is the reason behind the recent Kadena price action.
Kadena price today is trading at $7.05. Kadena has a 24 hour trading volume $72,173,208.43, current market cap is $1,204,811,363.58 with a circulating supply 171,287,601 KDA. The price of Kadena registered an all-time high of $28.25 in November 2021 and an all-time low of $0.1213 in January 2021.
The historical data on the daily chart shows that the difference between the value of the opening price and the closing price of Kadena KDA is meager. Kadena was executing a bullish momentum and sideways trend till October 17, 2021. From the second week of October 2021, Kadena price started moving up. The price of Kadena KDA took a rest in the last week of October 2021 and continued uptrend till the price touched an all-time high. Market data shows that traders started accumulating KDA cryptos into their portfolios. Then after, in November 2021 there was massive price rise, but eventually it started to fall. There was a minor spike in December 2021 when the price rose again but there was a downfall since then and from mid February 2022 price volatility is observed.
A Kadena price drop can be expected for the next two to three days; immediate support levels are placed around $5.190. Any price drop below this is a sell Kadena indication. The resistance of Kadena’s price is $10.549.
The major technical indicators are neutral. RSI is placed at 59.17 which is a neutral zone. The MACD line has crossed the signal line which shows recovery. Looking into the technical analysis based on EMA, the average price of Kadena is trading beyond its 20 EMA and 50 EMA. As per the forecasts, we can expect the price pullback in Kadena value for the near term; afterward, the price might reflect long-term earning potential. Since the start of the year 2022, price volatility is observed till now.
Frequently Asked Questions
Is Kadena is a good investment?
Yes, Kadena is a good investment option based on the current KDA price trend and Kadena price prediction. The Kadena forecast is bullish for the near future. Buy Kadena for a period of five years for a good return in the future. Analyzing the company’s roadmap, every step, they are trying hard to create a new addition to increase Kadena network value and KDA coin price. Unpredictability is the main risk in crypto investment. A bit of proper financial advice is necessary before investing.
Where can I buy Kadena?
Traders can buy Kadena KDA cryptos from the leading crypto exchanges like KuCoin, Hotbit, CoinEx, Bittrex, and Hoo.
Can I stake Kadena?
Yes, anyone can stake Kadena KDA to earn a passive income.
What will be the price of Kadena in 2030?
According to the Kadena price forecast, the coin might register overall growth along with its market cap. The KDA price might reach the $33.15 mark in 2030.
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